Financial services company Charles Schwab is reportedly waiting for favorable conditions to offer cryptocurrency trading to its clients.
Rick Wurster, the new CEO of Charles Schwab, says The Texas-based company plans to provide cryptocurrency spot trading services once US regulations become friendly to digital assets, Bloomberg reports.
Wurster said in an interview with Bloomberg Radio:
“We will engage in point crypto when the regulatory environment changes, and we anticipate that will change, and we are preparing for that eventuality.”
The United States is expected to take a friendlier stance toward crypto once President-elect Donald Trump takes office. During his campaign, Trump pledged support for the digital asset sector.
Schwab already offers crypto-focused exchange-traded funds (ETFs) and digital asset futures.
The company plans to add spot trading for digital assets as companies in the financial services industry compete to bring new product offerings to investors.
Although Wurster states that he is not looking to gain exposure to crypto at the moment, he notes that it plans to support clients who are considering investing in the digital asset space.
“Crypto has certainly caught the attention of many, and they have made a lot of money doing it. I didn’t buy crypto and now I feel stupid.
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